Akudo
Empowers India's teenagers with financial knowledge and independence.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor | €0.0 | round | |
$4.2m | Seed | ||
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 271 % | - |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
Related Content
Akudo is a fintech startup based in Bangalore, India, that focuses on providing financial services specifically designed for teenagers aged 11 to 18. The company aims to empower young individuals by offering them a platform to manage their finances independently while also providing peace of mind to their parents. Akudo operates in the Indian market, which has a growing demand for digital financial solutions tailored to younger users.
The core of Akudo's business model revolves around a mobile app that offers a prepaid debit card and UPI (Unified Payments Interface) payment options. This allows teenagers to make both online and offline payments easily. The app is designed to be user-friendly and educational, helping teens learn about financial management through real-world practice.
Akudo generates revenue primarily through transaction fees and partnerships with various brands. Every time a user makes a purchase using the Akudo card, the company earns a small fee. Additionally, Akudo offers exclusive cashback deals and rewards, known as KUDOS, which can be earned and redeemed on future purchases. These partnerships with popular brands not only provide value to the users but also create a revenue stream for Akudo through affiliate marketing and promotional deals.
The company serves two main types of clients: teenagers who use the financial services and their parents who sign them up. By targeting this specific age group, Akudo fills a niche in the market that traditional banks often overlook. The platform also includes features that allow parents to monitor and control their children's spending, adding an extra layer of security and trust.
In summary, Akudo is a pioneering fintech company that offers a safe and educational financial platform for teenagers in India. It combines modern payment solutions with engaging rewards to teach young users about money management while providing parents with oversight capabilities.
Keywords: fintech, teenagers, prepaid debit card, UPI payments, financial education, cashback, rewards, parental control, India, digital banking.